Matrix Asset Advisors Inc. NY Sells 19,756 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Matrix Asset Advisors Inc. NY lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 183,356 shares of the wireless technology company’s stock after selling 19,756 shares during the quarter. QUALCOMM makes up 3.7% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 3rd biggest holding. Matrix Asset Advisors Inc. NY’s holdings in QUALCOMM were worth $31,042,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Aspiriant LLC grew its position in shares of QUALCOMM by 25.0% in the 1st quarter. Aspiriant LLC now owns 17,470 shares of the wireless technology company’s stock valued at $2,958,000 after buying an additional 3,490 shares during the last quarter. TrueMark Investments LLC boosted its holdings in QUALCOMM by 24.7% in the first quarter. TrueMark Investments LLC now owns 20,024 shares of the wireless technology company’s stock valued at $3,390,000 after acquiring an additional 3,960 shares during the last quarter. Sovereign Financial Group Inc. acquired a new stake in QUALCOMM during the 1st quarter valued at approximately $688,000. RMR Wealth Builders raised its holdings in QUALCOMM by 52.0% during the 1st quarter. RMR Wealth Builders now owns 8,983 shares of the wireless technology company’s stock worth $1,521,000 after purchasing an additional 3,072 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its position in shares of QUALCOMM by 5.7% in the 1st quarter. Sunbelt Securities Inc. now owns 15,677 shares of the wireless technology company’s stock worth $2,654,000 after purchasing an additional 852 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Down 2.4 %

Shares of NASDAQ QCOM opened at $197.33 on Thursday. The company has a market cap of $220.22 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 2.46 and a beta of 1.30. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The firm’s fifty day moving average is $193.66 and its 200 day moving average is $168.40. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, equities research analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.72%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio is 45.70%.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Sylvia Acevedo sold 744 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the transaction, the director now owns 54 shares of the company’s stock, valued at approximately $9,802.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock valued at $8,206,875 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on QCOM shares. UBS Group increased their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. KeyCorp lifted their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a research note on Thursday, May 2nd. Benchmark reaffirmed a “buy” rating and set a $200.00 price objective on shares of QUALCOMM in a research report on Friday, May 3rd. Finally, Piper Sandler upped their price objective on shares of QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $192.13.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.